Viking River Cruises CEO Has No Interest in IPO or Selling to a Cruise Corp

Samantha Shankman, Skift

- Apr 01, 2014 1:30 pm

Skift Take

Neck-deep in growth and expansion, the future of Viking is still not clear, but it’s recent move into the ocean business suggests Viking has the ambition to expand its brand into other sectors of the travel industry.

With 18 ships inaugurated late last month, another ten to twelve river longships to be introduced next year, and up to five ocean liners under construction over the next five years, the company is in the middle of its fastest growth ever.

In a press meeting during last month’s inauguration events, Viking founder and Chairman Torstein Hagen said each new ship cost approximately $35 million to build.

Despite investment coming in from at least three banks including UBS and KFW, neither an IPO or acquisition are what Hagen says wants for his 17-year-old company at this time.

“I don’t wish it upon my colleagues to be owned by a large cruise company,” Hagen said when asked about possible exits.

“We don’t foresee any capital need. I don’t see a purpose in being a public company.”